LoJack/Tracking device is your best bet at getting it back, but LoJack doesn't come with stickers, so having one isn't a deterrent. (You can order bootleg LoJack stickers on ebay, though.)
I personally have seen too many people stranded by their own alarms - or had their vehicles vandalized because the alarm kept going off at 2am. Add to that the fact thieves don't even care about alarms and, well, there you have it.
Good insurance policy is as good as it gets. If you do regularly park in the same visible area day in/day out, then locking your bike to something immovable is not a bad idea, but like the alarm, it's not going to stop a professional.
Probably the best deterrent is to have a totally stock 1199. Being that aftermarket parts are where the most $$ is, not having them diminishes your bikes worth considerably. If you are going to add bling, might want to make sure it's all laser etched or something that makes the parts traceable.